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bbc.com
Elon Musk becomes world's first trillionaire as SpaceX soars in stock market debut
Musk is now worth $1.11tn according to the Bloomberg rich list, while SpaceX listed on the Nasdaq stock exchange with a value of $2.2tn.
bbc.com
Teen plans to leave uni 'debt free' after making £35,000 selling vintage football shirts
Eleri Williams started out selling her dad's old football shirts and has just opened her own shop.
cnbc.com
SpaceX 'proxies' plunge as real deal arrives: Here's where traders are buying the dip
SpaceX "proxy stocks," whose options volumes were booming ahead of Friday's historic initial public offering, are unwinding gains.
cnbc.com
Elon Musk becomes world's first trillionaire as SpaceX begins trading on the Nasdaq
Elon Musk's stake in SpaceX is worth more than $766 billion. Combined with his Tesla holdings, Musk's net worth as of Friday is roughly $1.05 trillion.
theguardian.com
SpaceX to list on US stock market at historic $1.77tn valuation
Initial public offering for aerospace and AI company made Musk the world’s first trillionaire as share prices jumpedShare your views on SpaceX’s stock market debutSpaceX made the biggest stock market debut in history on Friday after nearly two and a half decades as a private company. Public trading began around midday with a starting share price of $150, which quickly jumped by a double digit percentage and sent the company’s valuation above $2tn, where it remained through market close. The company’s initial public offering made the company’s CEO, Elon Musk, the world’s first trillionaire.“It is certainly hard to believe that a little company that started in a warehouse in El Segundo is now going public with the largest IPO ever,” Musk said in an address at SpaceX’s headquarters Friday morning. He reiterated the company’s mission to “make humanity multiplanetary” and “take the fiction out of science fiction”. Continue reading...
cnbc.com
Trump administration: Iran deal signing likely in coming days, but not '100%' certain
A deal to end the Iran war could be signed soon, a senior Trump administration official said, following recent conflicting statements from the warring nations.
bbc.com
UK vows to phase out Russian diesel and jet fuel imports by new year
The ban forms part of the government's package of sanctions on Moscow due to the ongoing war with Ukraine.
theguardian.com
Pro-Palestine activists sentenced as terrorists over damage at Israeli arms factory in UK
Four found guilty get tougher conditions as judge says actions were ‘designed to intimidate the UK government and a section of the public’A judge has imposed lengthy custodial sentences on four Palestine Action activists who smashed up drones and other equipment at an Israeli arms manufacturer’s UK factory after ruling that there was a “terrorist connection” to their offending.Charlotte Head, 30, and Leona Kamio, 30, were each jailed for five years and Fatema Rajwani, 21, was sentenced to four years and 8 months for criminal damage in relation to a 2024 break-in at the Elbit Systems UK site in Gloucestershire. Samuel Corner, 23, who was additionally convicted of grievous bodily harm without intent for striking Sgt Kate Evans with a sledgehammer, was sentenced to seven years and eight months. Each will also spend an additional year on licence and be subject to 15 years of terrorist notification requirements. Continue reading...
cnbc.com
Trump denies Iran's account of deal terms, decries new drone attack: 'Dishonorable people'
"They better get their act together, and FAST!" President Donald Trump said of Iran one day after announcing that a deal would be finalized within days.
cnbc.com
SpaceX COO Shotwell says Tesla tie-up ‘might make Elon’s life a little easier’
As SpaceX prepared to hit the Nasdaq following its record IPO, Elon Musk's second-in-command didn't dismiss the possibility of a Tesla tie-up.
cnbc.com
SpaceX’s Gwynne Shotwell had IPO doubts for years, now she has a message for investors
Gwynne Shotwell, long Elon Musk's second-in-command at SpaceX, spoke exclusively with CNBC ahead of her company's highly anticipated IPO.
theguardian.com
US consumer sentiment improves in June due to easing gas prices
Consumer sentiment still remains at historically low levels amid Iran war and rising inflation, new survey showsEasing gas prices are making Americans feel better about their personal finances and the economy in June, but consumer sentiment remains at historically low levels amid ongoing conflict in the Middle East, according to new survey data from the University of Michigan.The latest numbers come as SpaceX marks its historic stock market debut, which has made Elon Musk the world’s first trillionaire. Yet many Americans still feel like they are struggling even as the stock market reaches record highs. Continue reading...
theguardian.com
Can Starmer’s late-night World Cup openings help Britain’s struggling pubs?
While venues could stay open until 2am, rising costs remain a far bigger concern for many landlords Picture the scene: it’s 1am on a sultry July night and Jude Bellingham has just scored the decisive penalty to send England into the World Cup semi-final. Cue wild celebrations among millions of pub goers, fuelled by the realisation that there is still an hour until closing time.Keir Starmer may have imagined a national morale-boosting spectacle such as this when his government told hospitality venues that they could stay open until 2am on some World Cup match days. Continue reading...
cnbc.com
Former Tesla board member says SpaceX needs to achieve 2 of its 3 moonshots to keep its valuation
SpaceX has achieved its goal of becoming the largest IPO on record.
cnbc.com
From startup to $1.8 trillion: The investors who took a chance on SpaceX now reap the rewards
With SpaceX seeking an IPO valuation of nearly $1.8 trillion, early bets are poised to generate some of the biggest paper gains in venture capital history.
theguardian.com
Sam Bankman-Fried loses bid to appeal against fraud conviction in FTX case
Decision to not overturn fallen crypto mogul’s 25-year prison sentence was handed down by three-judge panel Sam Bankman-Fried on Friday lost his bid to overturn his fraud conviction and 25-year prison sentence over the collapse of the FTX cryptocurrency exchange he founded.The decision was handed down by a three-judge panel of the New York-based second US circuit court of appeals. Continue reading...
theguardian.com
‘A long lunch is what we’re good at’: London bistro above a pub wins UK restaurant of the year
Bouchon Racine is old school, for lovers of traditional French cooking and boozy afternoons – it even aims to stop taking bookings onlineIf you are someone who consults social media to find the best spots for a weeknight dinner reservation, you’d be forgiven for thinking that having a viral social media account or influencer chef at the stove is the only way to run a successful restaurant these days.However, the operators of the newly crowned top UK restaurant are not just unbothered about competing in the algorithm olympics, they’re actively seeking out ways to be more analogue – even considering only take bookings by phone. Continue reading...
theguardian.com
Reeves grudgingly resorts to departmental salami slicing to fund UK defence budget
Starmer shows no will to pursue the main options for rising commitments: spending cuts, tax rises or borrowingWhen Keir Starmer wanted to promise Donald Trump that the UK would increase defence spending, he decided to fund it by slashing the UK’s aid budget – losing a cabinet minister, Anneliese Dodds, in the process.This time around, with John Healey’s Ministry of Defence (MoD) demanding an additional £18.5bn over four years to fund the defence investment plan, there was no such lever to hand. Continue reading...
bbc.com
Have you been mis-sold car finance?
Martin Lewis has advice for those who have or who are planning to put in a car finance mis-selling claim.
cnbc.com
CNBC Daily Open: The buyers are back ahead of SpaceX IPO
SpaceX will start trading on the Nasdaq today after raising $75 billion in its record-breaking IPO, as Wall Street's rally resumes on Iran peace hopes.
theguardian.com
Barclays to buy GoHenry kids’ debit card and money app
High street bank to buy UK business from US fintech company Acorns as it targets young peopleBarclays is to buy an app designed to help children understand and manage their money, as it targets young people in affluent families.The high street bank has agreed to buy the UK business of GoHenry, which provides children with personalised debit cards carrying their name, from the US fintech company Acorns, which will retain GoHenry’s US branch. Continue reading...
theguardian.com
A solar-powered rubbish-eating boat? The vessel chomping plastic waste out of the sea
Guided by floating barriers, the Interceptor has already stopped more than 143,000lbs of rubbish from entering the Pacific from one LA riverOn an overcast June morning, I step from the rubber-sided Zodiac boat on to a floating barge at the mouth of Ballona Creek, where it meets Santa Monica Bay on the west side of Los Angeles. The first thing I notice? Salty air is the only smell, despite six giant waste bins sitting atop the tennis court-sized barge.The contraption is actually two barges – a smaller platform sits nestled inside the larger boat. A floating barrier directs rubbish into the device, where a conveyor belt scoops it up. An automated shuttle then distributes the waste into six dumpsters on a separate barge, sending an alert to crews when it is full. Above, solar panels form the ceiling and a conveyor belt runs slowly, dropping bits of plastic and waste into each of the bins. The whole thing can hold about 20,000lbs (9,070kg) of rubbish – the same as one fully loaded lorry. Continue reading...
cnbc.com
The Tech Download: Mistral's Arthur Mensch on agentic AI, chips and enterprise adoption
CNBC's Arjun Kharpal sat down with the chief of one of Europe's leading AI companies.
bbc.com
UK signals it may block payout to British Steel owner
Chinese firm Jingye is seeking compensation after the government decided to nationalise the company.
bbc.com
UK economy contracts as Iran war impact felt
The economy shrank slightly in April as the Iran war began to have an impact on businesses, official data shows.
bbc.com
'I was employee number one at SpaceX'
The BBC's Michelle Fleury spoke to Tom Mueller, who was one of the company's founders alongside Elon Musk in 2002.
theguardian.com
Behind the scenes at OpenAI HQ: the Stephen Collins cartoon
Continue reading...
cnbc.com
Luxury stocks spike on proposed U.S.-Iran peace deal; LVMH up 5%
Luxury stocks have been hard hit by the Iran war, as the Middle East had been a fast-growing market for the otherwise largely muted sector.
cnbc.com
U.S. becomes India’s top gas supplier, as Iran war cuts it off from the Gulf
India's gas purchases from the U.S. have grown steadily, driven by Washington’s push to sell more American energy to the South Asian country.
theguardian.com
After SpaceX’s huge IPO, Americans’ financial future will be bound to AI
They’re about to get more AI rammed down their throats, stuck into their pension plans and investment portfoliosShare your views on SpaceX’s stock market debutAmericans are growing worried about what artificial intelligence portends for their futures. Eight in 10 Americans report concern over AI, compared with a third who report being excited, according to a recent Quinnipiac poll. More than half think it will do more harm than good in their daily lives. Seven out of 10 think it will reduce the number of available jobs.Skeptical though they may be, they are about to get more AI rammed down their throats and stuck into their pension plans and their investment portfolios, whether they want it or not – binding their futures ever more tightly to the frenzied, risky, multibillion-dollar dash by technology moguls to develop machines capable of mimicking human thought processes to take over cognitive tasks. Continue reading...
bbc.com
Watch: Three things to know about SpaceX's stock market debut
The BBC's Samira Hussain explains everything you need to know about SpaceX's historic IPO.
cnbc.com
Jewelry giant Chow Tai Fook's shares rise 15% as higher gold price boosts profits
Chow Tai Fook surged after posting a record high profit in its latest financial year.
cnbc.com
Meta reportedly begins dismantling $2 billion Manus deal on Beijing's orders
Meta has reportedly begun dismantling its acquisition of Manus, moving to comply with Beijing's unprecedented order to hand back the Chinese-founded AI startup.
theguardian.com
Paddy Power owner Flutter to scrap listing on London Stock Exchange
Gambling business, which also owns Betfair, to focus on New York in latest high-profile blow to UK stock marketThe gambling group that owns Paddy Power and Betfair is to scrap its listing on the London Stock Exchange, in another blow for the UK’s shrinking stock market.Flutter Entertainment, the world’s largest online betting company, told investors that it would cancel its London shares on 3 August, blaming low levels of trading in the stock and high costs. Continue reading...
cnbc.com
UK economy shrank 0.1% in April as Iran conflict weighed on growth
U.K. GDP fell 0.1% in April as services activity declined and companies cited pressure from the Middle East conflict.
theguardian.com
Has the US really carried out a secret mission to get oil through Hormuz?
Trump says hundreds of tankers have escaped Iran’s blockade. Data suggests shipments are increasing but many questions remainDonald Trump has claimed that the US has been conducting a “secret mission” in the strait of Hormuz to help Gulf petrostates bypass Iran’s chokehold on oil flows – which has roiled global energy markets for months.In televised comments from the Oval Office on Wednesday, the president claimed Iran was unaware that dozens of tankers had been escorted out of the blockaded channel at night with their transmitters off. Continue reading...
theguardian.com
UK economy shrank by 0.1% in April as Iran war held back growth
GDP hit by higher energy prices caused by Middle East conflict, after 0.3% rise in MarchThe UK economy contracted by 0.1% in April as the Iran war began to take its toll on growth, official figures show.As energy prices have risen as a result of the conflict, after Iran closed off the strait of Hormuz – a vital shipping route for global trade – the UK’s strong expansion in the first quarter slid into reverse. Continue reading...
bbc.com
'I was employee number one': SpaceX co-founder reacts to firm's market debut
The BBC's Michelle Fleury spoke to Tom Mueller, who was one of the company's founders alongside Elon Musk in 2002.
theguardian.com
Homes for sale in cultural hotspots in England and Scotland – in pictures
From a new-build in the UK’s only Unesco city of media arts to a buzzing area in London famous for its street art Continue reading...
cnbc.com
ChatGPT hits a billion monthly app users despite souring public AI sentiment
ChatGPT reached a billion monthly users in May despite growing unease over its ethical and environmental impacts.
theguardian.com
Diane Keaton’s nail clippers for $960: what’s behind the new boom in celebrity estate auctions?
With beloved stars’ personal items increasingly up for grabs after they die, a new generation of fans are bidding on everything from bowler hats to dog bowlsFrom Diane Keaton’s bowler hats and polka dot scarfs, to Gene Hackman’s used paint brushes, to Terence Stamp’s love letters from Jean Shrimpton and even Matthew Perry’s black leather wallet (his credit cards and AAA membership card still inside), fans are being offered – at a price – increasingly personal items from the estates of dead celebrities.The growing trend for auctions of deceased famous people’s personal items – which has boomed ever since the hugely popular Marilyn Monroe estate sale in 1999 – has even attracted its own portmanteau: “deleb” as in dead celebrity. Continue reading...
cnbc.com
BTS-mania poised to boost South Korea's economy well into the future
BTS-mania, with all the fan spending and travel, is poised to boost South Korea's economy well into the future
cnbc.com
A Chinese start-up's unfolding dilemma exposes cracks in Beijing's tech funding machine
While the U.S. channels support to tech winners indirectly via incentives, Chinese governments at every level take direct equity stakes.
bbc.com
Why the economics make this the craziest World Cup ever
From trade wars to soaring ticket prices, the 2026 World Cup is unlike any before it. Faisal Islam explores what this tournament reveals about our changing global economy.
bbc.com
India's 'blue gold' starts a new drinks industry
Agave plants grow wild in India and new distillers are using them to create a spirits industry.
theguardian.com
Record number of young people fear long-term unemployment
Report says confidence among 16- to 21-year-olds has fallen sharply as they doubt hard work will be rewardedYoung people in England are increasingly “losing faith in their futures” according to a report, as record numbers fear long-term unemployment.Analysing survey data, including from the Office for National Statistics, the Institute for Public Policy Research (IPPR) said 16- to 21-year-olds were less confident about being successful than a decade ago. Continue reading...
bbc.com
My friends always want to split the bill equally, how do I say no?
It is never easy to speak up when a fellow diner says "let's just divide it!"
cnbc.com
Trump picks former SEC Chairman Jay Clayton as national intelligence director
Trump's announcement came after House Democrats' objections to his pick of Bill Pulte as acting chief ensured that a key national security tool expires Friday.
cnbc.com
Oil tanker CEO sees Hormuz ship traffic quickly increasing if U.S. and Iran reach a deal
Many shipowners are just waiting for the threat assessment to be downgraded before crossing Hormuz, Frontline CEO Lars Barstad said.
cnbc.com
SpaceX IPO will test how Wall Street prices ‘strategic tech’
Elon Musk's SpaceX defies typical market buckets, and the IPO will give Wall Street another chance to value "strategic tech" like Palantir.
bbc.com
Villagers take fight against Lidl store plans to Welsh government
Residents in the area do not want a store on land separating Llantwit Major and Llanmaes.
cnbc.com
Ahead of SpaceX IPO, Elon Musk addresses ASML employees as part of push into chip manufacturing
Elon Musk called ASML a great company in a fireside chat with CEO Christophe Fouquet, as the SpaceX CEO gears up to go big in chip manufacturing.
bbc.com
Ryanair investigated over charging parents to sit with children
The UK's competition regulator is investigating the airline over charges it imposes on parents to sit next to their child.
bbc.com
Why does your World Cup pint cost so much this time round?
Pub landlords explain why they have no choice but to charge more.
cnbc.com
Iran threatens Elon Musk's companies in Middle East: Iranian state media
Iran will consider all of Elon Musk's companies in the Middle East as military targets as it retaliates against the U.S., Iranian state media reported.
cnbc.com
South Korea's stock market rout isn't a vote against the country, market exchange chief says
"This is a rebalancing exercise, and has nothing to do with any loss of conviction in the Korean market," Korea Exchange CEO Jeong Eun-bo said.
theguardian.com
Hugo Boss shares jump as it ‘thoroughly examines’ Frasers’ takeover offer
Mike Ashley’s retail group has made near-€2bn bid for the German fashion house, in which it holds a 26% stakeBusiness live – latest updatesShares in Hugo Boss jumped nearly 10% on Thursday after the company said it would “thoroughly examine” a near-€2bn takeover approach from the Sports Direct owner Frasers Group.Mike Ashley’s fashion and sportswear business has pounced on the German fashion house, in which it already owns just over a 26% stake, saying late on Wednesday that it was offering about €1.98bn (£1.73bn) to take full control . Continue reading...
cnbc.com
ECB hikes interest rates for first time since 2023 as Iran war ramps up energy costs
The European Central Bank also raised its inflation forecasts and cut its growth outlook.
bbc.com
Dozens of crisis payments handed out by council
Many of the completed payments have gone to low income families with surging heating oil costs.
cnbc.com
SpaceX IPO is a ‘referendum’ on Musk, say market watchers
Friday's hotly anticipated SpaceX market debut could prove a defining moment for capital markets — and serve as a "referendum" on Elon Musk's leadership.
theguardian.com
BT boss takes home £5.6m as pay and bonus package more than doubles
Allison Kirkby pocketed the payment after BT’s share price surged nearly 80% The chief executive of BT saw her pay and bonus package more than double last year to £5.6m, the biggest pay award to a boss of the telecoms company in more than a decade.Allison Kirkby, who stepped up from the board to take the helm in February 2024, received a pay, bonus and share award package of £5.58m for the year to the end of March. Continue reading...
theguardian.com
ECB raises eurozone interest rates as Iran war stokes inflation
European Central Bank increases main deposit rate to 2.25%, with two further rises expected by next springBusiness live – latest updatesThe European Central Bank has raised interest rates for the first time since 2023 in response to higher inflation caused by the war in Iran.The ECB raised its main deposit rate from 2% to 2.25% in a move that financial markets expect to be the first of three rises by next spring. Continue reading...
cnbc.com
Why U.S. AI giants like Anthropic, OpenAI are launching major expansions in London
The U.K. capital has become a key growth target for many of the world's most talked about AI companies.
bbc.com
Trump says 'I love the inflation' as US prices rise at fastest rate in three years
The US president later said he had meant that he actually loved that inflation was not higher.
theguardian.com
China’s Jingye seeks compensation from UK over British Steel takeover
Sources say firm is asking for more than £1bn in row that could put pressure on two countries’ relationshipBusiness live – latest updatesThe Chinese owner of British Steel has started a formal process under an international treaty to win compensation from the UK government over its decision to nationalise the Scunthorpe steelworks.Jingye Steel said it would seek to recover money via China’s bilateral investment treaty with the UK, after more than a year of negotiations over the size of any payout. The dispute could put pressure on the relationship between China and the UK. Continue reading...
cnbc.com
AI mega-listings are 'just the start,' Razer CEO says, ahead of historic SpaceX IPO
Blockbuster public offerings from AI companies could be an enduring feature of the industry, Razer CEO Min-Liang Tan said Thursday, ahead of several mega IPOs.
bbc.com
Korea fines e-commerce giant $400m over data breach affecting millions
The record fine comes after around 37.5 million users had their private data exposed.
theguardian.com
Ryanair investigated over charging parents to sit with their children
Budget airline describes inquiry as ‘bogus’ as watchdog says it is only large carrier flying from UK to impose chargeBusiness live – latest updatesEurope’s biggest low-cost airline, Ryanair, is facing an investigation over the mandatory fee it charges a parent to sit with their child.The Competition and Markets Authority (CMA) said the Irish carrier’s terms and conditions require at least one parent to sit with their children, including those with disabilities, and bills them about £8 a flight to do so. Continue reading...
bbc.com
Social media on trial: Four important cases to watch
Social media firms face thousands of lawsuits, the BBC looks at four which could be significant.
theguardian.com
Into the HyperVerse: inside a crypto scheme that cost investors millions of dollars – documentary
When Guardian Australia senior reporter Sarah Martin heard a friend’s hairdresser had invested in a cryptocurrency scheme called HyperVerse and potentially lost all her money, she decided to investigate. She soon found many more members of the scheme, in Australia and around the world. A person in the UK had lost £1m from the sale of his home that he’d put into HyperVerse; an Australian who had recruited his mates lost $100,000 – and lost his friendships too.In this short documentary, interviews with former HyperVerse participants are woven through Sarah’s recounting of the rabbit hole she fell down as she investigated the scheme, how it worked, and tried to find out who was responsible for it all.‘They are so convincing’: Vera Gazzard lost her life savings to HyperVerseInvestors lose millions as crypto schemes operate unchecked in Australia Continue reading...
cnbc.com
Inside India newsletter: Hollywood is debating AI. India's filmmakers are embracing it
Even as Hollywood remains the world's most influential storyteller, experiments in AI filmmaking are increasingly happening in India.
bbc.com
The furious dispute over what caused Air India flight 171 to crash
The final conclusions of the investigation have yet to be published, although more could become apparent in the coming days.
bbc.com
Mike Ashley's Frasers offers £1.73bn to buy all of Hugo Boss
The retail group already owns just over a quarter of the German fashion brand but wants to buy the rest of it.
bbc.com
New candy stores are popping up across NYC. Why?
While US consumer confidence is at an historic low the Big Apple's sweet shops are expanding.
bbc.com
I'd have vetoed foreign sale of UK tech giant, says Business Secretary
Peter Kyle's comments come as the government sets out how it would back British technology companies.
bbc.co.uk
SpaceX IPO: Preparing for the biggest liftoff yet?
It’s not just about rockets: what SpaceX does and why its IPO matters
bbc.com
World Cup expected to be the biggest betting event in history
The expansion of the number of games being played is set to drive a surge in the amount of bets placed on this year's World Cup.
theguardian.com
UK minister defends changes to student loans as criticism mounts
Lucy Rigby tells MPs heavily subsidised system gives the government the right to alter terms of existing agreementsMinisters have rejected accusations that recent changes to student loans are unfair, arguing that they are so heavily subsidised that the government has the right to alter their terms.Pressure has been intensifying on the UK government to reform the student loans system but the chief secretary to the Treasury, Lucy Rigby, told MPs on Wednesday that less than half of young people go to university, and the government had to bear in mind “fairness to taxpayers as a whole”. Continue reading...
theguardian.com
Pay what you wish: the restaurant where customers can eat for free – if their conscience lets them
Ever since the Post Modern Times cafe in Minneapolis ditched its price list, half the customers have chosen not to pay. It’s still making a profitName: Pay what you wish.Age: Popular since the 00s, but dating back to at least the 80s. Continue reading...
theguardian.com
The business secretary is overselling UK state investment activism
Peter Kyle exaggerates role of British Business Bank and National Wealth Fund in nurturing firmsIs the business secretary, Peter Kyle, suffering from SpaceX fever? It must be something of that sort because his launch this week of a “concierge service” to allow fast-growing companies to navigate Whitehall bureaucracy came with an extraordinary pitch. The new service is “part of his [Kyle’s] quest to nurture the UK’s first trillion-dollar firm”, said the official announcement.One trillion dollars is about £750bn so Kyle’s quest is not a small undertaking when you see that the largest company on the London Stock Exchange, HSBC, is worth £235bn. Arm Holdings, the fast-growing UK chip designer that is listed in the US (sadly), is worth £280bn. So Kyle is saying he thinks he can “nurture” something much bigger. Continue reading...
cnbc.com
AI will help young workers 'mature' faster by automating grunt work, Thoma Bravo says, amid youth job crisis
"If you look at our associates, they're spending a lot less time doing models or comparables than before," Orlando Bravo, founder of Thoma Bravo, told CNBC.
theguardian.com
We economists have done the maths: ‘growth’ is a doomed strategy – there is a better way | Olivier De Schutter and others
Our roadmap has been shaped by experts across the world, from UN agencies to grassroots movements. We call on political leaders at all levels to use itWe live in an age of manufactured scarcity. In a world richer than ever before, roughly one 10th of the world’s population still lives in extreme destitution. Millions of people cannot afford enough food, proper housing or basic healthcare, while a tiny minority accumulates unprecedented wealth and power. At the same time, droughts, megafires, floods and heatwaves remind us that our economies are pushing the planet beyond its limits.These are not separate crises. They are symptoms of an economic model that has reached the end of the road. Poverty and inequality are not accidents; they are predictable outcomes of policy choices: how we design tax systems, regulate labour markets, value care, structure public services and decide whose needs and whose voices matter. Crucially, if governments can manufacture poverty, they can also dismantle it.Olivier De Schutter is the chair of New Economies for Eradicating Poverty; Joseph Stiglitz is a Nobel laureate in economics; Jayati Ghosh is professor of economics at University of Massachusetts Amherst; Thomas Piketty is professor of economics at the Paris School of Economics; Kate Raworth is an economist at Oxford University’s Environmental Change Institute; Jason Hickel is a political economist and professor at the Autonomous University of Barcelona Continue reading...
theguardian.com
A question for Nigel Farage – why is your nationalist party so obsessed with destroying British jobs? | George Monbiot
The net zero economy is booming, so claims that prosperity depends on oil and gas are bunkum – unless you’re a Reform backer with fossil fuel interests, of courseReally? You want to destroy a million jobs? Vote Reform UK for mass unemployment: is that your pitch? Hammer these questions home whenever you meet a supporter of the party. Or, for that matter, a Conservative, as their party now takes an almost identical line.The figures are stark. They were compiled not by Just Stop Oil or the Green party, but by that bastion of conservatism, the Confederation of British Industry. They show that the net zero economy now directly employs more than 300,000 full-time workers, while supporting the jobs of 1.1 million. The net zero sector is worth £100bn to the UK already, and is likely to grow by hundreds of billions more. The rest of the green economy directly employs a further 600,000. Continue reading...
bbc.com
UK pint prices up 36% since last World Cup – here's why
UK pint prices are up 36% since the last World Cup. We look at why beer now costs so much more.
bbc.com
Illegal mini-marts to shut for up to 12 months under law change prompted by BBC
Under current rules, shops breaking the law can only be closed for up to six months in England and Wales.
theguardian.com
It was Britain’s most expensive house. Why is its only resident a homeless man who lives on the porch?
2-8A Rutland Gate had jewel-encrusted bathroom suites and gold wastepaper bins in its 45 rooms, but has lain empty for years. With many people desperate for secure housing, what does the abandonment of this palace tell us about the UK?When it last changed hands, in 2020, 2-8A Rutland Gate was Britain’s most expensive house, selling for £210m. The word “house” hardly does it justice; palace is probably more accurate. It is in Knightsbridge, one of the most glamorous parts of London, and has 45 rooms, four lifts, an indoor pool and 116 windows, 68 of which overlook Hyde Park.But no one is enjoying those views. This palace has been empty for years. Continue reading...
bbc.com
Bill debt soars but many don't know help is available
The majority of billpayers are unaware of special tariffs for water and broadband, the spending watchdog says.
bbc.com
Beauty Pie LED mask ad banned over misleading anti-wrinkle claim
The mask is not "clinically proven to reduce wrinkles in four weeks", the advertising watchdog finds.
bbc.com
How to enjoy the World Cup - and keep your boss on side
Football fans and bosses share their strategies to balance late night kick offs with work the next day.
bbc.com
Kalshi to make some users reveal job details to tackle insider trading
After issues with insider trading, the prediction betting platform is adding new rules.
bbc.com
World's largest chipmaker does not rule out price rises as costs increase
In a rare interview, a senior executive at TSMC discusses the AI boom, the geopolitics of chips and what it means for the price of electronics.
bbc.com
Version of AI tool 'too powerful for public' released to public
Claude Fable 5 is a version of Anthropic's Claude Mythos, an AI program which caused a stir among technology, finance, and government leaders.
theguardian.com
BT Digital Voice switched off our vital phone line
The line is vital for our elderly relative’s care, but after 20 calls BT seems unable to resolve the problemMy elderly aunt, who lives alone, has been unable to receive incoming calls for more than two months after BT switched her analogue service to Digital Voice.Her care is overseen by a rota of relatives who check on her and arrange medical appointments and in-home help. Continue reading...
theguardian.com
Think Musk the billionaire was bad? Brace yourself for Musk the trillionaire | Arwa Mahdawi
Becoming the world’s first trillionaire is only going to supercharge this sense of impunity and bring us one step closer to full-blown oligarchy“Whoever said ‘money can’t buy happiness’ really knew what they were talking about,” Elon Musk wrote in February on Twitter/X, the social network he bought for $44bn. He capped the statement with a sad face emoji.Alas, Musk’s information is outdated. A 2024 study found a substantial difference in happiness between the wealthy and people who are low income. “A greater feeling of control over life can explain about 75% of the association between money and happiness,” the study’s author noted.Arwa Mahdawi is a Guardian columnist and the author of Strong Female Lead Continue reading...
theguardian.com
The British food scene was booming. Why has it suddenly gone bust?
Once mocked internationally, the UK became a gastronomic hotspot in recent decades – London was hailed as the foodie capital of the world. Now many Michelin-starred restaurants have closed and the rot is spreadingIt’s 9am on a weekday morning and although I’ve just finished my porridge, the chef Richard Wilkins is making my mouth water. “My signature dish is soft Scottish langoustines wrapped in very thin, crispy pastry, served with Japanese sushi rice and a langoustine bisque.”His other specialities include turbot in a spinach and champagne sauce, buttery wagyu steak with English peas, and raspberry millefeuille. Sadly, I won’t be able to sample any of them and neither will anyone else. At the end of April, Wilkins took the painful decision to close his west London Michelin-listed Restaurant 104 after seven years. Continue reading...
bbc.com
AI giants' race to raise funds heats up as ChatGPT-owner plans stock market debut
The company behind ChatGPT files its plans one week after Anthropic did the same.
theguardian.com
Healthy cooperation: how northern universities are linking with NHS trusts to drive innovation
Backed by a mix of private and public finance, Huddersfield and Manchester are among many in the academic sector helping to create jobs and growthHuddersfield might appear an unlikely setting for a thriving health research complex. The West Yorkshire town is best known for its manufacturing heritage, but has quickly become a honey pot for private sector businesses keen to collaborate with the town’s university in a push for the latest medical breakthroughs.Next month, the driving force behind the University of Huddersfield’s national health innovation campus, Prof Liz Towns-Andrews, expects to get the go-ahead for the third of seven planned eco-buildings for research and tech development clustered near the town centre. Continue reading...
bbc.com
Could humanoid robots be heading for the battlefield?
Armed forces are experimenting with humanoid robots, but battlefield deployment is some way off.
theguardian.com
Fighting Amazon made Chris Smalls a celebrity: 'My life changed' – Stateside with Kai and Carter
In 2022, Amazon workers at a fulfillment center in Staten Island made history by voting to form a union. Their leader was fired Amazon worker Chris Smalls, who became something of a celebrity within the labor movement. Smalls left the union amid internal tensions, and has gone on to become a freelance activist since. He speaks with Kai Wright about being arrested while protesting the Jeff Bezos-funded Met Gala, and why courting attention is an effective form of activism. Smalls’ new book When the Revolution Comes is out now. Continue reading...
theguardian.com
Israel and Iran trade strikes: what does this mean for peace deal? - The Latest
The Iranian regime has announced the end of attacks against Israel, while the US president has claimed both sides ‘want a ceasefire’. This comes after Iran and Israel attacked each other’s territory for the first time since a fragile ceasefire took effect in April. The Israeli strikes are in apparent defiance of Donald Trump, who told Israel’s prime minister, Benjamin Netanyahu, not to retaliate against Iran, in order to avoid derailing peace talks. Nosheen Iqbal speaks to the Guardian’s senior international correspondent Julian Borger Continue reading...
theguardian.com
Bernie Sanders’ AI sovereign wealth fund plan is good. But we think this is better | Nathan E Sanders and Bruce Schneier
While we do not outright oppose the taking of AI company stock, or of a US a sovereign wealth fund, there are better ways to achieve the senator’s goalsLet no one accuse Bernie Sanders of ducking the big questions. Writing in the New York Times last week, the senator asked: “Will the future of humanity be determined by a handful of billionaires who have promoted and developed AI, with virtually no democratic input, who stand to become even richer and more powerful than they are today?”We agree entirely that this is one of the most potent questions facing global democracy today. Our book, Rewiring Democracy, surveys the emerging uses for and impacts of AI in democracy around the world and reaches the same conclusion: that the most urgent risk posed by AI is the concentration of power, wealth and control among tech oligarchs. Continue reading...
bbc.com
Spain's visitor numbers hit new highs as tourists avoid Middle East
The European country had 9.1 million international visitors in April, the most ever for that month.
bbc.com
How the High Street became a window on our political instability
High Streets have declined in recent years. What does this tell us about the UK?
theguardian.com
Rachel Reeves may be unpopular, but she is quietly rebalancing UK plc | Heather Stewart
Policy U-turns could define her stint at No 11 despite many sure-footed advances on devolved spending to help kickstart growthAn air of unreality settled on a Westminster conference room last week, as Rachel Reeves, upbeat in a powder pink power suit, gave a speech about boosting jobs and growth along the “OxCam corridor”.“If we get this right, working together, this corridor will not just compete globally, it will lead globally. We can do that together!” she told the audience of investors, policymakers and entrepreneurs. Continue reading...
theguardian.com
Tax-break trees: how woodland became a store of wealth for the rich
Attempt to turn a stretch of the English-Scottish border into a commercial forest exposes threat to habitats from wealthy investorsOn the English-Scottish border a small species of butterfly, the northern brown argus, has fended off one of the biggest investors in the UK.Todrig, with its heath moorlands and hundreds of species of flora and fauna, represents an investment that could save Britain’s wealthiest families millions of pounds in inheritance tax. Continue reading...
theguardian.com
UK’s fragile heirloom: ceramics sector calls for more help to save ‘vital industry’
Brands such as Portmeirion in Stoke welcome £120m package but seek further support to avert fresh closuresOn the floor of Portmeirion’s factory in Staffordshire, staff are hard at work as clays are moulded, glazed and fired – an intricate process requiring precision and specialist skills honed over years of practice – to manufacture the company’s array of tableware.Portmeirion, a homeware brand founded in 1960 that employs 433 people, is based in Stoke-on-Trent, at the heart of British ceramics. The centuries-old craft is so integral to the area’s identity that the six federated towns that make up the Staffordshire city are known as the Potteries. Continue reading...
theguardian.com
‘I’m down to one option’: bank customers left frustrated by latest closures
Apps intended to replace branches have been hit by outages, as a poll finds most Britons want high street servicesWith its windows blanked out, a poster pinned to the door of the Staines branch of Lloyds Bank tells its customers they can do their “everyday banking with our mobile banking app”.But not today. On Wednesday, when the Guardian visited Staines, they wouldn’t have got very far because the Lloyds group was battling an IT outage that left thousands of its customers unable to make payments or send money. Continue reading...
bbc.com
The ancient trick making food waste useful and tasty
Instead of throwing away byproducts of food processing, fermentation is making them valuable.
bbc.com
'By the grace of God': Miners dig on as lab-grown diamonds change market
The rising popularity of lab-grown diamonds heaps pressure on those hunting for the natural gems.
bbc.com
How 'confused' AI rollout hurts firms and baffles staff
Some firms are putting pressure on staff to use AI, but have not thought through their AI rollout.
bbc.com
Caribbean hot sauce producers warn of shortages and higher prices
Manufacturers in Jamaica say the key chilli peppers they need are in limited supply.
bbc.com
Humanoid robots 'the future' of car making, says BMW
BMW is introducing humanoid robots to a car plant in Europe, building on similar projects in the US.
bbc.com
The £5 coffee that tells a story of global economic turmoil
Coffees at some city centre outlets now cost £5. It's a story of tariffs, the climate, Gen Z cultural tastes, and savvy coffee farmers playing the market, writes Faisal Islam
bbc.com
Is 'out of control' US tipping culture spreading overseas?
With US waiting staff getting cross at receiving less than 20%, tips are also on the rise elsewhere.
bbc.com
The rise of the fruit that tastes like custard
Custard apple plants are prized for their hardiness but exporting their delicate fruit is difficult.
bbc.com
Morocco wants tourists to visit Western Sahara. Some say it's tightening its control
The Moroccan government wants more Western holidaymakers to visit the territory it claims to own.
bbc.com
'Six eggs used to be £1' - why everyday essentials cost so much more now
Six supermarket brand eggs cost £1 in 2022. How much are they now, why have they gone up, and is anyone profiteering?
bbc.com
Love factually: Dating start-ups promise to cut the cheats
Frustration with fake dating profiles has spurred new dating services with different approaches.
bbc.com
The fight against foreign developers buying Caribbean beaches
Campaigners in Barbuda, Grenada and Jamaica say they can no longer access their coastlines.
bbc.com
Robo-top: The machines that could make your next t-shirt
Most clothes are made in Asia, but new machines could bring some of that work back to the West.
bbc.com
Why does Amazon have no Western rivals?
The internet giant dwarfs other online retailers on both sides of the Atlantic.
bbc.com
The threat to summer holidays looming from jet fuel shortages
What impact might shortages have on our summer holidays - and what could be done about it?
bbc.com
Scammers are becoming ever more sophisticated - this is what the fightback looks like
Scams have exploded over the last few years. Can countries and companies come together to turn the tables on the scammers?
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